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Miner Anglo American is selling its 9.7% stake in South African coal miner Exxaro for $US215M.The sale price represents a 10% discount to the closing price on Nov 30 2016 and leaves Anglo with no direct equity interest in Exxaro. Anglo says it intends to use the proceeds to reduce debt.

Canadian-based explorer Redhawk will review its options for the Copper Creek copper-molybdenum project in Arizona, USA after Anglo American withdrew from its 2-year old exploration and development JV.President-CEO Joe Sandberg says Anglo American has spent about $US7M on mainly regional exploration, advancing knowledge of the project. Its focus would now turn to developing the existing large resource and considering alternative strategies including a third-party investment, JV or sale.

Anglo American will reduce debt by a further $US1.5B from the $US1.7B total cash proceeds of the sale of its niobium and phosphates businesses in Goiás and São Paulo, Brazil to China Molybdenum Co. The $1.5B sale price announced in April was boosted by about $187M working capital and other adjustments.

Fortescue CFO Stephen Pearce will move to an executive director's role at Anglo American after ending his 6-year career at Australia's iron ore No 3. Pearce, who leaves Fortescue on Dec 31, will join the UK multi-commodity major on Jan 30 before taking the place of retiring Finance Director René Médori in April.While it seeks a new finance chief, Fortescue has named former Rio Tinto executive Greg Lilleyman as operations director.

Anglo American has yet to assess the impact of a stoppage that began at Los Bronces copper mine in Chile on Friday after workers voted 858 to 508 to reject a final offer of a bonus equivalent to $US1,300 plus other benefits.The strike is the first at Los Bronces since Anglo American came to Chile in 1980. The company expressed regret the rejection of its "fair and responsible" offer, but official Guillermo Santander told local media it ignored issues relating to working and accommodation conditions.

Anglo American has completed the sale of its 70% interest in the Foxleigh metallurgical coal mine in the Bowen Basin in Queensland in line with its debt-reduction strategy of divesting its Australian coal assets.Terms of the sale to a consortium led by fund manager Taurus Fund Management are confidential. The opencut mine delivered 1.86Mt of attributable production of high-quality PCI coal in 2015.

Anglo American unit De Beers has begun the on-time, on-budget commissioning the Gahcho Kué diamond mine 280km NE of Yellowknife in Canada's Northwest Territories, ramping up to commercial production in Q1 2017 and targeting 4.5Mctpa over 13 years.CEO Bruce Cleaver says the project, a 51-49% JV with Mountain Province Diamonds, is an exceptional resource in terms of volume, value and economic potential for its community.